Omeros (NASDAQ:OMER) Downgraded by Wall Street Zen to Hold

Omeros (NASDAQ:OMER) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Other equities research analysts have also issued reports about the company. D. Boral Capital reissued a “buy” rating and set a $36.00 price objective on shares of Omeros in a research note on Tuesday, April 21st. Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Omeros in a research note on Thursday, May 14th. Finally, Weiss Ratings lowered Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Omeros Stock Performance

Shares of NASDAQ OMER opened at $9.79 on Friday. The stock has a fifty day moving average price of $12.26 and a two-hundred day moving average price of $11.82. The firm has a market cap of $708.60 million, a P/E ratio of 13.99 and a beta of 2.52. Omeros has a 1 year low of $2.95 and a 1 year high of $17.65.

Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $9.89 million for the quarter, compared to the consensus estimate of $4.19 million. On average, research analysts predict that Omeros will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the sale, the director owned 35,067 shares in the company, valued at $407,127.87. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.90% of the stock is owned by insiders.

Institutional Trading of Omeros

A number of hedge funds have recently modified their holdings of OMER. UBS Group AG lifted its holdings in shares of Omeros by 213.5% in the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock valued at $38,180,000 after purchasing an additional 1,513,893 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Omeros by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock valued at $68,929,000 after purchasing an additional 666,357 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Omeros by 1,201.1% in the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock valued at $1,706,000 after purchasing an additional 384,168 shares in the last quarter. State Street Corp lifted its holdings in shares of Omeros by 26.9% in the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock valued at $27,025,000 after purchasing an additional 333,798 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after purchasing an additional 263,095 shares in the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.